According to Zacks, “GOLDEN STAR RES is an un-hedged gold producer they own the Wassa gold project in Ghana and control a number of gold exploration properties in West Africa. The Company is well funded and has strong, operational focused management experienced in West Africa. The Company has become a producing gold company by consolidating a long-lived production base at Bogoso/Prestea in Ghana. Going forward, the Company will continue to focus on growing its gold business. “
Several other research analysts also recently weighed in on the stock. CIBC upgraded shares of Golden Star Resources from a sector underperform rating to a sector perform rating in a research report on Thursday, August 25th. National Bank Financial reiterated an outperform rating on shares of Golden Star Resources in a report on Monday, June 27th.
Golden Star Resources (NYSE:GSS) traded down 0.6265% during mid-day trading on Thursday, hitting $0.8248. 327,752 shares of the stock traded hands. The stock has a 50-day moving average price of $0.75 and a 200-day moving average price of $0.67. Golden Star Resources has a 12 month low of $0.14 and a 12 month high of $1.13. The stock’s market cap is $233.19 million.
Golden Star Resources (NYSE:GSS) last released its quarterly earnings results on Monday, July 25th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.08. The company had revenue of $51.46 million for the quarter, compared to analysts’ expectations of $58.35 million. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities analysts forecast that Golden Star Resources will post $0.05 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Peak Asset Management LLC increased its stake in Golden Star Resources by 3,500.0% in the second quarter. Peak Asset Management LLC now owns 720,000 shares of the company’s stock worth $464,000 after buying an additional 700,000 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Golden Star Resources during the second quarter worth approximately $469,000. Hillsdale Investment Management Inc. acquired a new stake in Golden Star Resources during the second quarter worth approximately $896,000. Finally, Royal Bank of Canada increased its stake in Golden Star Resources by 40,074.2% in the second quarter. Royal Bank of Canada now owns 3,263,350 shares of the company’s stock worth $2,105,000 after buying an additional 3,255,227 shares during the last quarter.
About Golden Star Resources
Golden Star Resources Ltd. is a gold mining and exploration company. The Company’s segments include Wassa, Bogoso/Prestea and Other. The Company holds interest in the Wassa and Bogoso/Prestea gold mines in Ghana. The Company is pursuing brownfield development projects at its Wassa and Prestea mines. The Company holds interests in gold exploration projects in Ghana and other parts of West Africa.
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